Fross Co-Authors Resource Book for Independent Mutual Funds Directors

06 June 2014 Media Contact: Dan Farrell News

Foley & Lardner LLP is pleased to announce the publication of the third edition of “The Uneasy Chaperone – A Resource for Independent Directors of Mutual Funds,” which has been updated to reflect the Dodd-Frank Wall Street Reform and Consumer Protection Act, recent Supreme Court decisions and other regulatory changes.

The third edition, co-written by Foley partner Stuart Fross and James Storey, offers a wide-ranging look at the responsibilities of mutual fund boards of directors and challenges facing the independent director. It also provides insight on how to handle conflict and complexity generated by the modern fund group.

Reflecting the most recent effects of numerous regulations, this updated edition provides timely information on what the Securities and Exchange Commission (SEC) expects from fund directors in order to assess effectiveness and independence. Additionally, it informs directors on best practices endorsed by the Investment Company Institute (ICI), including the completion of orientation and staying abreast of industry developments.

“The Uneasy Chaperone” provides background on featured topics, including:

  • How the mutual fund business really works
  • Independent directors’ accountabilities
  • What is expected of the director in a time of crisis
  • Directors’ exposure to personal liability

About the Authors:
Stuart Fross is a partner with Foley & Lardner LLP with 28 years of experience in mutual funds. He specializes in investment funds and investment management.

James Storey serves as an independent director on the boards of several mutual fund groups and acts as counsel to the independent directors at a number of other fun groups and has 40 years of experience in mutual fund governance.

Related Services


Supreme Court Limits Patent Assignor Estoppel
02 August 2021
Review of Recent Whistleblower Developments
30 July 2021
Legal News: Whistleblower Developments
$4.24M Now the Average Cost Per Data Breach!
30 July 2021
Internet, IT & e-Discovery Blog
Podcast Episode 56: All Things Summer Associate Recruiting
30 July 2021
Foley Career Perspectives
30th Annual Law of Product Distribution & Franchise Seminar
29 September | 7 & 20 October 2021
Milwaukee | Chicago | Dallas
7th National Telehealth Summit
4-5 October 2021
Miami Beach, FL
AHLA Fraud & Compliance Forum
21-22 September 2021
Baltimore, MD
2nd Clinical Trial Agreements Forum
16-17 September 2021
Online Livestream